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A B C D E F G H I J L M N O P Q R S T U V W Z
AB AC AD AF AG AM AN AP AR AS AT AU

Accruals

"Accruals: If during the course of a business certain charges are incurred but no invoice is received then these charges are referred to as accruals (they 'accrue' or increase in value). A typical example is interest payable on a loan where you have not yet received a bank statement. These items (or an estimate of their value) should still be included in the profit & loss account. When the real invoice is received, an adjustment can be made to correct the estimate. Accruals can also apply to the income side. "
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